"Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system.
Required: Determine the cost assigned to ending inventory and to cost of goods sold using weighted average."
Date Activities Units Acquired at Cost Units sold at Retail
Units "Cost
per unit" Total cost Units Selling price per unit Total Sales
January Beginning inventory $ $
January Sales $ $
January Purchase $
January Sales $ $
January Purchase $
Totals $ $
Weighted Average Cost of Goods Sold Inventory Balance
Date Activities Units "Cost
per unit" Cost of goods sold Units Cost per unit Total Cost
January Beginning inventory $ $
January Sales
January Purchase
January Sales
January Purchase
Totals $
